Cathie Wood Says Orbital Data Centers Drove SpaceX to Go Public

Jim Cramer said on the September 28 episode of Mad Money that Space Exploration Technologies Corp. is developing into a broader technology and infrastructure company, with Starlink, AI computing, and Starship as multiple potential growth engines. Cramer pointed to SpaceX's GPU infrastructure business, saying Elon Musk is renting GPUs bought from NVIDIA to Google at an $11 billion a year run rate and has a similar deal with Anthropic at a $15 billion run rate starting in October, roughly $2.17 billion a month in compute rentals. The company's second-quarter results showed AI revenue of $2.56 billion, up 247% year over year, alongside $14.1 billion in contracted Cloud Services Agreements, though that AI revenue came with a $1.26 billion operating loss. Cramer also highlighted the September 28 Starship flight, which reached orbit and deployed 26 Starlink V3 satellites, but a Raptor Vacuum upper-stage engine shut down prematurely, cutting the planned 10-hour mission to about three hours. SpaceX generated $7.81 billion of second-quarter revenue while spending $18.37 billion on capital expenditures, $15.83 billion of it on AI, and Cramer separately warned that a large amount of restricted stock will become eligible to enter the market over the next year. Insider Monkey reported that 119 hedge fund portfolios held SpaceX at the end of the second quarter of 2026, and the stock trades at a price-to-sales multiple of 85.5x.